Supported by the la亚博娱乐官网平台乌托邦ulation of forex rese

erves, the country has seen stable and fast economic growth in the past four decades, with lowe

r inflation. Thanks to the reserves, China can also benefit from a favorable international trade and fina亚博娱乐官网平台乌托邦

ncial environment in the long term, Chen Yuan, a former deputy governor of the central bank and former vice-ch

irman of the Chinese People’s Political Consultative Conference, said at a forum on Aug 10.

亚博娱乐官网平台乌托邦品茶微信”Previously, we identified the foreign exchange reserves as an important milestone for ec

onomic development and society’s core wealth. Now, we have to reposition the foreign exchange market,” he added.

According to Chen, faced with new challenges, including foreign exchange rate issues raised by the United States rec亚博娱乐官网平台乌托邦

ently, the priority is to keep these reserves safe, and strengthen the renminbi’s position globally.

Chen sees potential in foreign exchange rate risks, as the majority of China-reserved foreign assets are in US dollars.

Currency composition亚博娱乐官网平台乌托邦品茶微信

Late last month, the State Administration of Foreign Exchange, or SAFE, C

hina’s forex regulator, said the country’s foreign exchange reserves held in US dollars

亚博娱乐官网平台乌托邦accounted for 58 percent of the total by the end of 2014, down from 79 percent in 1995.

Among global foreign exchange reserves, assets held in US dollars comprised 65 percent of

the total by 2014, up from 59 percent in 1995, according to SAFE’s annual report last year.亚博娱乐官网平台乌托邦

For the first time, SAFE made public the currency composition of the

forex reserves, after first reporting data to the Currency Composition of Foreign

亚博娱乐官网平台乌托邦Exchange Reserves, or COFER, an International Monetary Fund database, in 2015.

According to COFER, which keeps quarterly data on the currency composition of official亚博娱乐官网平台乌托邦品茶微信

foreign exchange reserves, the world’s forex reserves reached $11.59 trillion in the fir

st quarter of this year. Some 58.14 percent of the total was in US dollars, compared with 1.8 percent in renminbi.

izhankai.cn

Lin can’t wait to get quac亚博娱乐官网平台品茶微信eremy Lin attends th

Given his strength and ability, I believe Lin could still play in the NBA or in Europe, but he wished to find a team that

亚博娱乐官网平台品茶微信can make him the player he wants to become,” said Ducks chairman Qin Xiaowen.

“Lin chose Beijing Shougang, which shows his trust in our club. It’s also our great pleasure.

“He is a role for all Chinese players fighting to realize their NBA dreams. His life exp亚博娱乐官网平台品茶微信女神会所

erience and great spirit will encourage all of us. His persistence matches the spirit of Beijing Shougang.

亚博娱乐官网平台品茶微信”We believe his arrival will improve the team’s performance and brin

g more energy to the CBA.He will also bring excitement to the city of Beijing.”

Lin was a member of the Toronto Raptors team that won the NBA championsh亚博娱乐官网平台品茶微信女神会所

ip last season but he was often benched during the postseason, playing a total of 51

seconds during Toronto’s six-game Finals victory over the Golden State Warriors.亚博娱乐官网平台品茶微信

He became an unrestricted free agent on July 1 and struggled to find a team with which to try to re-create the “Linsanity” cr

aze he sparked during a torrid early-season scoring binge with the New York Knicks in 2012.

After recovering from a serious right knee injury prior to the 2017-18 season, Lin had just fo亚博娱乐官网平台品茶微信

ur starts in 74 appearances for Atlanta and Toronto last season, averaging 9.6 points, 3.1 assists and 2.4 reb

亚博娱乐官网平台品茶微信女神会所ounds in 19.4 minutes per game while shooting 44 percent from the field and 29.4 percent from 3-point terr

itory.eremy Lin shares a light moment with fans during a commercial activity in Beijing on Sunday. Lin is repo

rtedly set to sign a contract with the CBA’s Beijing Ducks. Photo provided to China Daily亚博娱乐官网平台品茶微信

He broke down in tears during an emotional appearance in

Taiwan last month when he described feeling abandoned by the NBA.

亚博娱乐官网平台品茶微信女神会所”Every year it gets harder,” Lin said at the time. “In English there’s a saying that once you hit rock bottom, the only way to

go is up-but rock bottom just seems to keep getting more and more rock bottom for me.”

a3o5.cn

Alibaba banking on l亚博娱乐官网平台夜生活er citiesses an adv

commerce giant pump primes Juhuasuan to cash in on abundant opportunities

Times are changing fast at e-commerce behemoth Alibaba Group Holding Ltd. While st亚博娱乐官网平台夜生活女神会所

ore-openings from a range of global brands like Burberry to Ferragamo were

亚博娱乐官网平台夜生活the norm earlier, they have since been replaced by deals, bargains and growth in lower-tier cities.

Against flattened economic growth and brutally aggressive competition, Alibaba is no

w giving unprecedented priority to Juhuasuan, its group-buying and flash-sale platfor亚博娱乐官网平台夜生活女神会所

m, repositioning it as the top destination for consumers from smaller cities and townships.

亚博娱乐官网平台夜生活The internet giant said recently that it will host a Super Bargain Day from Sept 1, halving prices for 1 million me

rchandise and giving out cash dividends, coupons and other perks. Unlike the

more reputable Nov 11 annual sales event, the 10-day event is targeted at good-quality budget items.亚博娱乐官网平台夜生活女神会所

“We see massive growth in lower-tier cities this year via the Juhuasuan platform. This is the

亚博娱乐官网平台夜生活engine fueling future growth and a bluesea market-meaning opportunities abound for each and e

very industry player to take a share,” said Liu Bo, general manager of Juhuasuan.

Media publications and industry analysts often categorize C亚博娱乐官网平台夜生活女神会所

hinese cities into tiers, defining them based on population, gross domestic prod

亚博娱乐官网平台夜生活uct and other criteria. Tier-one cities normally refer to super metropolises like Beijing and Shanghai.

Alibaba’s strategy to penetrate into lower-tier markets has reaped some early gains. In the

quarter ending June 30, over 70 percent of increased annual active consumers came from less dev亚博娱乐官网平台夜生活女神会所

eloped markets. The company attributed the achievement to initiatives to cater to a b

roader user base, such as “using simpler interfaces for first-time or less-frequent users”.亚博娱乐官网平台夜生活

Realizing the potential, Juhuasuan has announced a slew of plans to rev up services. On the

supply side, the platform aims to help manufacturers digitize their factories through consumer ana亚博娱乐官网平台夜生活女神会所

lytics and the internet of things technology. Liu said he hopes such efforts will foster

brands, create 1 million sought-after items and nurture 10,000 digital plants.

nqlbn.cn

Mingyuedao was abl亚博娱乐官网平台后花园 a profit within a yea

亚博娱乐官网平台后花园ear, and its nighttime revenue now accounts for about 20 percent of the total, Zhang said.

She added that running a 24-hour business is not easy, an亚博娱乐官网平台后花园女神会所

d many bookstores in China had tried and failed at this. But as the authorities have started to p

亚博娱乐官网平台后花园romote nighttime business activities, this offers a good opportunity to develop such bookstores.

“Bookstores are the spiritual landmarks of cities and are indispensable to citizens. To make 2

4-hour bookstores universal requires the joint efforts of society, and will take time,” she said, adding that she h亚博娱乐官网平台后花园女神会所

opes more cities in China will cater to people who want to read in bookstores at night.

In recent years, nighttime tourism has developed much faster than other se

亚博娱乐官网平台后花园ctors, and many cities have launched nocturnal projects. For example, Xi’an, capi

tal of Shaanxi province, has launched more night fairs, cultural performances and entertainment outlets.

Xu Xiaolei, chief brand officer for China Youth Travel Service亚博娱乐官网平台后花园, said that in the past, the tourism

industry placed the emphasis on daytime activities and “undervalued” nighttime operations. But con

亚博娱乐官网平台后花园女神会所sumers are now demanding high-quality nighttime activities, with nearly half of the company’s customers asking

for such itineraries to be arranged, whether they are traveling in China or abroad.

“I think it is especially good that the Chinese authorities have rolled out meas亚博娱乐官网平台后花园

ures to boost after-dusk activities, which is a response to people demanding higher-quality lives,” he said.

Xu added that Chinese cities are “too similar” in promoting nighttime ac亚博娱乐官网平台后花园女神会所

tivities. Most of the time, night travel is still about tasting local food in “snack streets”.

“Every city should think about developing unique tourism resources that would enabl亚博娱乐官网平台后花园

e it to stand out from others,” he said. “Many people the world over would like to see a Broadway musical while vis

iting New York, but performances in China are mostly high-priced and out of reach for most.”亚博娱乐官网平台后花园女神会所

The historic water town of Wuzhen has been transformed by Xu’s company from a shabby

destination, with 30 to 40 percent of consumption now taking place at night, Xu said.

www.ixhhw.cn

Even British Prime M亚博娱乐官网平台乌托邦oris Johnson, describe

by the US leader as the “right man for the job”, told the US leader at a

Sunday breakfast meeting that “we don’t like tariffs on the whole … We are in favor of trade pe亚博娱乐官网平台乌托邦品茶微信

ace”, having said on his arrival on Saturday that the trade war was “not the right way to proceed”.

亚博娱乐官网平台乌托邦Rarely have European leaders spoken with such unity on an issue. By doing so they will have hoped to drive home the messa

ge to the US leader that in a closely interconnected global economy, no one wins in a trade war, everyone loses.

Hopefully, that message has been received, since the US leader said on Monday that the two sides will begin亚博娱乐官网平台乌托邦

“serious negotiations” soon, as both sides understand the consequences and where the other stands.

China wants to make a deal. But that deal can only be reached based on equality and mutual re亚博娱乐官网平台乌托邦品茶微信

spect. It does not want any “decoupling” of the world’s two largest economies, as some in the US have tru

亚博娱乐官网平台乌托邦mpeted, knowing it benefits from that coupling. But it will not acquiesce to unreasonable demands.

Let us hope his talks with the European leaders have helped the US l

eader appreciate that the interconnectedness of the US and Chinese economies also b亚博娱乐官网平台乌托邦品茶微信

enefits the US, and that a trade deal is in everyone’s best interests, the US included.

China, the second-largest economy of the world and neighbor to 21 countries, is set to celebrate its 70th anniversary on October 1.亚博娱乐官网平台乌托邦

The path of development set by the Chinese leadership and the Communist Party of China was n

亚博娱乐官网平台乌托邦ot an easy job as there was much suffering in the prior century before it founded as a sovereign state.

The vision and statesmanship of the Chinese leadership and commitment of its people ch亚博娱乐官网平台乌托邦品茶微信

anged the status of the country from one with a backward economy tow

ards a prosperous one that is playing an active role in the international arena.

www.ever-spring.org

Typhoon Bailu makes亚博娱乐官网平台夜生活 landfall in East China

The typhoon also halted ferry services between Xiamen and Kinmen in Taiwan, and between

Pingtan and Taiwan’s Taichung. A total of 124 flights have been canceled at Xiamen airport.亚博娱乐官网平台夜生活女神会所

South China’s Guangdong province launched a level-IV emergency response, the

亚博娱乐官网平台夜生活lowest level, for strong winds. The provincial agriculture and rural affairs depart

ment issued a notice requesting fishing vessels in related waters to return to harbor for shelter.

The Guangdong Power Grid Corporation has deployed more than 300 power generatio亚博娱乐官网平台夜生活

n vehicles and over 400 sets of satellite communication equipment for emergency repair.

China firmly opposes the United States’ new threat to impose additional tariffs on about $550 billion

亚博娱乐官网平台夜生活worth of Chinese imports, a spokesperson of the Ministry of Commerce said on Saturday.

In a brief statement, the ministry said the US act is unilateral, trade protectionism, and using maximum pressure.

It violates the consensus reached between the top leaders of the two co亚博娱乐官网平台夜生活女神会所

untries, severely undermines the multilateral trading system and normal internat

ional trade order, and Washington will eat the bitter fruits of its own action, the ministry said.

“Such unilateral and bullying acts of trade protectionism and extreme pressure ru亚博娱乐官网平台夜生活

n counter to the consensus of the heads of state of China and the United States, and run

counter to the principles of mutual respect, equality and mutual benefit,” the spokesperson said.亚博娱乐官网平台夜生活女神会所

The ministry urged Washington to immediately stop its wrongful deeds, otherwise it will “bear all the consequences.”

The ministry warned the US administration not to misj

亚博娱乐官网平台夜生活udge the situation, nor to underestimate the determination of the Chinese people.

“China strongly urges the United States not to misjudge the situation, or underestimate the determination of the C

hinese people. It must immediately stop its erroneous practices, or bear all the consequences,” the spokesperson said.A g亚博娱乐官网平台夜生活女神会所

irl does homework in an air-raid shelter at People’s Square in Chongqing, Southwest Chin

a, Aug 24, 2019. The air-raid shelters, once used to protect Chongqing residents from air attac

ks during wartime, have turned out to be an ideal place to escape from the scorching heat.

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New personal mortg亚博娱乐官网平台419论坛 to be based on LPR

China will link the personal mortgage loan rate to a new lending rate reference, starting fr

om Oct 8, to make it more flexible and market-driven, the central bank said in a statement on Sunday.亚博娱乐官网平台419论坛

For purchasing the first house, individual borrowers of new mortgage loan will pay an intere

亚博娱乐官网平台419论坛品茶微信st rate of no less than 4.85 percent – it is the five-year loan prime rate, or LPR, th

e new reference of bank lending reported by the People’s Bank of China, the central bank, on Aug 20.

Buyers of second house should pay an interest rate that is 0.6 perc亚博娱乐官网平台419论坛

entage point above the LPR, which will be 5.45 percent, said the statement.

The existing mortgage loans, with the contracts signed earlier than Oct 8, will keep the old interest rates unchanged, it added.

亚博娱乐官网平台419论坛品茶微信”That is almost at the same level of the current lowest person

al mortgage loan rate,” a spokesman with the PBOC said. “Compare with the si

tuation before the reform, the interest expense will be basically unchanged for borrowers.”亚博娱乐官网平台419论坛

Liu Guoqiang, a vice-governor of the PBOC, said at a press

亚博娱乐官网平台419论坛品茶微信conference last week that even under the new interest ra

te scheme, the rate for mortgage loans will not be lower, as the government will not ease the

real estate control policy nor “use real estate as a tool to stimulate short-term economic growth”.亚博娱乐官网平台419论坛

The new method to set mortgage loan rate is part of the market-driven reform of the cou

ntry’s overall interest rate system, which made a remarkable progress on Au亚博娱乐官网平台419论坛品茶微信

g 17. It decided to use the LPR, the price of loans banks offer to their best clients, as a new

reference for bank loans, instead of the existing one-year benchmark lending rate.

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Trump’s retaliation aga亚博娱乐官网平台夜生活me after Beijing on

?Friday said it would retaliate against Trump’s plans for the imposition of tariffs on $300 billion in Chinese goods on Se

pt 1 and Dec 15 by slapping levies on US imports valued at $75 billion on the same dates. In a statement, China’s Com亚博娱乐官网平台夜生活

merce Ministry said the action was “forced by the US’s unilateralism and protectionism.”

In response, Trump tweeted: “Our country has lost stupidly, Trillions of Dollars with China ov

亚博娱乐官网平台夜生活女神会所er many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, &

they want to continue. I won’t let that happen! We don’t need China and, frankly, would be better off without them.”

Trump demanded that American companies “immediately st亚博娱乐官网平台夜生活

art looking for an alternative to China, including bringing your companies HOME and mak

ing your products in the USA.” Trump has no authority to tell US companies how to operate.

亚博娱乐官网平台夜生活Following Trump’s tweet post, David French, the senior vice-presid

ent of government relations of the National Retail Federation, tweeted: “It is un

realistic for American retailers to move out of the world’s second largest economy…”亚博娱乐官网平台夜生活女神会所

“Our presence in China allows us to reach Chinese customers and develop overseas markets. This, i

n turn, allows us to grow and expand opportunities for American workers, businesses and consumers.”

亚博娱乐官网平台夜生活The Dow Jones Industrial Average closed Friday at 25,628.90, down 623.34 points or 2.37 percent. N

asdaq closed at 7,751.77, down 239.62 points or 3 percent. The S&P 500 was also down, closing

at 2,847.11, down 75.84 points or 2.59 percent. The market closed down for the fourth week in a row.亚博娱乐官网平台夜生活女神会所

The continuing trade dispute and fears about a worldwide economic slowdown have led c

entral banks in the US and around the world to ease monetary policy in recent months.

qianpadat.com

companies and co亚博娱乐官网平台419论坛will foot the bill fo

r the tariffs imposed on Chinese goods, said Ruan Zongze, executive vice-pres

ident of China Institute of International Studies, a government think tank.亚博娱乐官网平台419论坛品茶微信

Ruan, also speaking at the seminar, said US households are expected to pay up to $1,000 in additional costs annually as the pro

亚博娱乐官网平台419论坛品茶微信posed levies on roughly $300 billion in Chinese imports will mainly target consumer goods.

Gao said negotiating teams from both countries have maintained communication. The two sides agreed dur亚博娱乐官网平台419论坛

ing the latest meeting in Shanghai to meet for the next round of talks in September in the US.

He said the list of “unreliable entities”, a blacklist of foreign parties that harm the legit亚博娱乐官网平台419论坛

imate interests of Chinese companies, is undergoing necessary procedures and will be published shortly.

The list will apply to entities that do not comply with market rules, violate contracts or hinder supplies to Chinese

亚博娱乐官网平台419论坛品茶微信firms for noncommercial reasons.Hong Kong’s educators on Thursday expressed concern

over the secondary school students’ participation in political assemblies, calling it a “worrying sign”.

Hundreds of students, along with some teachers and parents, staged a rally at the Edinburgh Place, a public square in Cen亚博娱乐官网平台419论坛

tral, adjacent to the Victoria Harbour, against the now-shelved extradition bill.

Some students said they would hold strikes every Monday starting Sept 2, the first day of the 2019-20 academic year.亚博娱乐官网平台419论坛品茶微信

Ho Hon-kuen, principal of Elegantia College, a local secondary s

chool, called the assembly a “one-sided event” with no discussion on different views.亚博娱乐官网平台419论坛

One of their demands was the release of all the lawbreakers arrested during prot

ests, which is “very dangerous” and goes against the city’s core value-the rule of law, Ho said.

Ho, who is also the chairman of a leading education group, Education Convergence, s亚博娱乐官网平台419论坛品茶微信aid that members of the secondary ed

ucation system, including students, teachers and schools, should not be pulled into any political disputes.

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It is important to spec亚博娱乐官网平台夜网ponsibilities of all

?participants involved in a project, so all culprits get their due punishment,” he said.

Zhai said ethical issues in science and technology were important because the development of h亚博娱乐官网平台夜网女神会所

ighly risky technologies such as brain science and artificial intelligence could affect the future of humanity.

“For example, the latest biological technologies such as gene editing can produc

亚博娱乐官网平台夜网女神会所e cross-generational effects and unpredictable results for our offspring,” she said. “We must be cautious about givin

g a certain scientist the right to make such alterations at will in the name of curing a serious disease.

“Ethical standards do not impede the development of science and technology. Rat亚博娱乐官网平台夜网

her, they ensure the development is on the right path for the benefit of humankind.”

Qin Chuan, president of the Chinese Association for Laboratory Animal Sciences, said improved ethical supervisio

n was necessary to ensure the welfare of laboratory animals used in research on new drugs.亚博娱乐官网平台夜网女神会所

“But it is important for the development of science and technology for

亚博娱乐官网平台夜网the public good not to impose unnecessarily stringent ethical standards,” she said.

For example, scientists would, in principle, use lower-level animals for scienti

fic experiments, but in some research involving the study of the brain, mice migh亚博娱乐官网平台夜网女神会所

t not be suitable and higher-level mammals would been to be used for effective research, she said.

Xiao Keyan, a doctorate in aquatic plant ecology and former associate prof

亚博娱乐官网平台夜网essor at Wuhan University, is thriving in aquatic plant industry after quitting his job.

Xiao rented some land in a village after resigning from the university and began growing aquat

ic plants, according to Chutian Metropolis Daily on Monday, a newspaper in Hubei province.亚博娱乐官网平台夜网女神会所

One of his plants has brought him huge economic returns. He got 50

,000 yuan ($7,082) for selling aquatic grass in 2 mu (0.13 hectare), he said.

qsnsjb.org